Zebra Technologies

Information Technology Electronic Equipment & Instruments Lincolnshire, Illinois Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$5.4B
                    3y CAGR -2.3%
                    
                    P17
                    
                    +8.3%
                    
                    Net income
                    FY2025
                
$419.0M
                    Net margin +7.8%
                    
                    P22
                    
                    -20.6%
                    
                    Total assets
                    FY2025
                
$8.5B
                    ROA +4.9%
                    
                    P25
                    
                    +6.7%
                    
                    Operating cash flow
                    FY2025
                
$917.0M
                    FCF margin +15.4%
                    
                    P27
                    
                    -9.5%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 3 years

Total assets $8.5B

Total liabilities $4.9B

Shareholders equity $3.6B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	-86.1%	+557.7%	—
Accounts Receivable	+15.8%	+32.8%	—
Inventory	+5.2%	-13.8%	—
Prepaid Expenses	-17.9%	-8.8%	—
Other Current Assets	+55.0%	-68.3%	—
Total Current Assets	-26.4%	+45.9%	—
Property,Plant and Equipment	+15.7%	-1.3%	—
Operating Lease Assets	-0.6%	-1.2%	—
Goodwill	+21.5%	-0.1%	—
Intangible Assets	+91.7%	-19.9%	—
Deferred Tax Assets	-19.1%	+16.9%	—
Other Noncurrent Assets	+2.6%	-22.0%	—
Total Assets	+6.7%	+9.1%	—
Liabilities
Accounts Payable	+9.8%	+38.8%	—
Accrued Liabilities	+5.8%	+5.5%	—
Deferred Revenue	-1.5%	-1.1%	—
Current Portion of Long Term Debt	+78.5%	-54.3%	—
Total Current Liabilities	+8.7%	+6.6%	—
Long Term Debt	+12.9%	+2.2%	—
Deferred Revenue Noncurrent	+30.3%	-2.6%	—
Operating Lease Liabilities Noncurrent	+1.3%	+2.0%	—
Deferred Tax Liabilities	-43.9%	-14.9%	—
Other Noncurrent Liabilities	+65.7%	-25.5%	—
Total Liabilities	+12.1%	+2.6%	—
Equity
Preferred Stock	—	—	—
Common Stock	+0.0%	+0.0%	—
Additional Paid In Capital	+21.7%	+8.8%	—
Retained Earnings	+8.6%	+12.2%	—
Treasury Stock	+30.9%	+2.3%	—
Accumulated Other Comprehensive Income	+59.1%	+18.5%	—
Total Stockholders Equity	+0.1%	+18.1%	—
Total Liabilitiesand Equity	+6.7%	+9.1%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $5.4B

Operating income $700.0M

Net income $419.0M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	+8.3%	+8.7%	—
Expenses Cost of Revenue	+9.2%	+4.3%	—
Other Income Expense Gross Profit	+7.5%	+13.7%	—
Expenses Research and Development	+5.3%	+8.5%	—
Expenses Selling,General and Administrative	+10.7%	+7.2%	—
Expenses Depreciation and Amortization	+9.6%	+0.0%	—
Expenses Restructuring and Asset Impairment	+347.1%	-82.7%	—
Expenses Other Operating Expenses	+300.0%	+0.0%	—
Expenses Operating Expenses	+13.3%	+1.8%	—
Other Income Expense Operating Income	-5.7%	+54.3%	—
Other Income Expense Other Income/expense	-30.8%	+27.2%	—
Other Income Expense Income Before Tax	-11.8%	+90.1%	—
Income Tax Income Tax Expense	+31.8%	+181.6%	—
net Income net Income	-20.6%	+78.4%	—
net Income Comprehensive Income	-17.3%	+74.7%	—
Earnings Per Share Diluted Eps	-19.6%	+78.0%	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $917.0M

Investing cash flow $-1.5B

Financing cash flow $-239.0M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	-20.6%	+78.4%	—
Operating Activities Depreciation and Amortization	+7.6%	-2.3%	—
Operating Activities Stock Based Compensation	+83.1%	+61.8%	—
Operating Activities Deferred Income Taxes	+122.3%	-161.1%	—
Operating Activities Changes In Operating Assets and Liabilities	-79.1%	+168.5%	—
Operating Activities Other Non Cash Items	+447.1%	-183.3%	—
Operating Activities net Cash From Operating Activities	-9.5%	+25425.0%	—
Investing Activities Capital Expenditures	-45.8%	+32.2%	—
Investing Activities Business Acquisitions	—	—	—
Investing Activities Purchases of Investments	-66.7%	-200.0%	—
Investing Activities Other Investing Activities	-80.0%	+225.0%	—
Investing Activities net Cash From Investing Activities	-2452.6%	+38.0%	—
Financing Activities Proceeds From Debt	-46.7%	+48.0%	—
Financing Activities Repayment of Debt	+97.3%	-183.3%	—
Financing Activities Repurchase of Common Stock	-1148.9%	+9.6%	—
Financing Activities Tax Withholding On Stock Based Compensation	+53.3%	-275.0%	—
Financing Activities Other Financing Activities	+148.6%	-288.9%	—
Financing Activities net Cash From Financing Activities	-25.8%	-262.4%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+133.3%	—	—
Cash Reconciliation net Change In Cash	-201.7%	+3533.3%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+48.1%	+48.4%	+46.3%
Operating margin	+13.0%	+14.9%	+10.5%
Net margin	+7.8%	+10.6%	+6.5%
FCF margin	+15.4%	+19.2%	-2.0%
Growth
Revenue CAGR (3y)	-2.3%	-4.0%	+1.0%
Returns
ROE	+11.7%	+14.7%	+9.7%
ROA	+4.9%	+6.6%	+4.1%
ROIC	+8.8%	+12.7%	+8.3%
Liquidity
Current ratio	0.97x	1.43x	1.05x
Quick ratio	0.50x	0.93x	0.41x
Leverage
D/E	1.37x	1.22x	1.41x
Interest coverage	—	—	—
Efficiency
Asset turnover	0.63x	0.63x	0.63x
Cash conversion cycle	+59d	+59d	+93d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

No multiples without a share count — this filer reports no diluted or basic weighted-average shares.

Notes

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